Sushi or Sashimi - or the Vampire Squid that is HM Treasury?
Tuesday 26th July 2022
For some time, I have called our beloved ex-chancellor Rishi Sunak - Sushi.
It’s just a play on his name to help an aging mild dyslexic remember him.
I have patented ‘Rishi is Sushi’, so hopefully it will catch on and I can digest some royalties, especially if he becomes PM.
In real life, sushi is a soft, more palatable dish for those who don’t have the stomach for raw Sashimi.
Sashimi is for the brave and pure who have no time for bland ballast.
Though neither brave or pure - I am a Sashimi lover.
You know where this is going…
Liz Truss is Sashimi- straight to the point with a dash of wasabi. Definitely an acquired taste.
Politicians in the UK come and go but the Civil Service grinds on. With its clearly (despite denials) left of centre bias, it does everything it can to thwart any radical plan.
The Treasury is the Vampire Squid - camouflaging to prey on the weak but often found floating out of its depth.
Whilst not a particular fan of Liz Truss, I applaud the fact that despite two years as Chief Secretary to the Treasury she has managed to avoid being trapped by its terrible tentacles.
Rishi is Sushi, not just in nickname but in the eating. He is a softy who has fallen into the left of centre ‘group think’ that is the Treasury.
With Sushi, there will be a cautious well-trodden establishment line of tackling inflation and paying down debt before even considering cutting tax rates to boost the economy.
Sashimi is promising immediate tax rate cuts to boost economic growth and ease the burden on working people. Her aim being to increase the actual tax take which, in turn can fund public spending. In reality there will be a time-lag before the tax take increases, during which period interest on national debt will still have to be paid.
You can argue that this is a more dangerous strategy but you cannot argue that the Treasury’s previous or current strategies have been and are anything other than sclerotic growth killers.
Boris- bless him - in his last PMQ’s in Parliament, got it right. ‘If we did what the Treasury had wanted, we would not have had the Channel Tunnel or the M25.’ I would go further and say we could have had a much more dynamic economy too.
The stars are now aligned. We have left the EU and so can set our own taxes and agenda.
We need a new Prime Minister who will take on the Treasury and get us out of this terrible bind they have created.
Stupidly high Stamp Duty, plus CGT on steroids kills a fluid property market in Central London and actually lessens the tax take.
So, whether we have Sashimi or Sushi - the country needs a policy platter of tax cuts including on property transactions.
Now please.
Otherwise the Vampire Squid win?
PB
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